EUR/USD Price Analysis: Pair extends losing streak but holds above key support

EUR/USD declines to 1.0430 on Wednesday, marking its third consecutive daily loss.
The pair has already shed more than 0.50% over the course of the week.
RSI drops to 53, signaling fading bullish momentum, while MACD histogram shows decreasing green bars.

Patricio Martín FXStreet

The EUR/USD pair continued to pull back on Wednesday, shedding another 0.17% to trade around 1.0430. This marks its third straight day in the red, erasing over 0.50% of last week’s gains when the pair surged more than 1.50%. Despite the ongoing correction, the broader technical outlook remains constructive as long as the pair stays above the 20-day Simple Moving Average (SMA).

Momentum indicators reflect a shift in sentiment. The Relative Strength Index (RSI) declined sharply to 53, staying in positive territory but signaling waning buying pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram prints decreasing green bars, hinting that bullish momentum is losing traction. However, as long as EUR/USD remains above the 20-day SMA, buyers may still have room to regain control.

From a broader perspective, the 100-day and 20-day SMAs are converging near 1.0450, raising concerns about a potential bearish crossover. If this materializes, it could confirm that the recent rally was merely a temporary correction, shifting the long-term outlook back to the downside. For now, traders will keep an eye on whether the pair can maintain support above the 20-day SMA or if further downside pressure will trigger a deeper pullback.

EUR/USD daily chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

AUD/USD remains depressed near 0.6950 after RBA minutes

AUD/USD attracts follow-through selling during Tuesday’s Asian session, looking to extend the overnight rejection slide from 0.7000, or a two-week top, following the release of RBA meeting Minutes. The US Dollar retains a bullish undertone near its highest level since April 2025 as energy-driven inflation risks keep December Fed rate hike bets firmly on the table. Adding to this, geopolitical risks further underpin the safe-haven USD.

USD/JPY eases from two-week top, hovers near 158.50 amid looming intervention risk

USD/JPY edges lower during the Asian session on Tuesday, snapping a two-day winning streak and pulling back from an over two-week top touched the previous day, despite Japan's soft PPI print. Bulls turn cautious amid speculation that authorities will step in to prop up the Japanese Yen, which, in turn, weighs on the currency pair. The downside, however, seems limited as the US Dollar stands firm near its highest level since April 2025, bolstered by the hawkish Fed and geopolitical uncertainties.

Gold struggles above $4.150 as bullish USD and elevated bond yields weigh

Gold remains depressed during the Asian session on Tuesday as elevated US Treasury yields and a hawkish Fed keep the US Dollar near its highest level since April 2025. Adding to this, persistent geopolitical uncertainties stemming from Middle East conflicts continue to underpin the safe-haven buck, which, in turn, is seen as weighing on the bullion. Traders now look to US inflation figures for some impetus ahead of Fed Chair Kevin Warsh's appearance on Friday.

Bitcoin shows bottoming signs despite recent macro pressures

Bitcoin remained range-bound above $82,000 on Monday as upcoming US economic data and onchain indicators weigh on market sentiment. Crypto trading firm QCP Group stated in its Monday report that Bitcoin has maintained a firmer footing a year after the market’s largest single-day liquidation event.

Earnings preview US and Europe: Can the stock market rally continue?

Stocks have been remarkably resilient this year. They have navigated geopolitical turmoil, an energy price spike and surging global bond yields which is rapidly pushing up the cost of borrowing. US blue chip stocks are now in their 4th year of a bull market, however, they now face their toughest test of Q4 so far, the latest earnings updates.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?